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Author Question: Page Litton likes to use her credit card to buy gas since she can defer payment for 30 days. ... (Read 83 times)

fagboi

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on: Jul 11, 2018
Page Litton likes to use her credit card to buy gas since she can defer payment for 30 days. However, she notices that her dealer charges 3 cents more per gallon than if she paid with cash. Page estimates paying about 1.
 
  00 a gallon for gas, and her monthly credit statement shows an APR of 18 . Given this information, Page should
  A)
 
  continue using her card since the opportunity cost of paying in cash is less than 18 a year.
  B)
 
  pay with cash since its opportunity cost is about 36 a year.
  C)
 
  continue using her card, the effective cost of using cash is about 36 a year.
  D)
 
  you can't tell unless you know how much gas she will buy.

Question 2

In the context of a surety agreement, the party who agrees to perform certain acts or fulfill certain obligations is called the
 
  A) fidelity.
  B) obligee.
  C) surety.
  D) principal.


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bblaney

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Reply #1 on: Jul 11, 2018
Answer to Question 1

B

Answer to Question 2

Answer: D


fagboi

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Reply 2 on: Jul 11, 2018
Excellent

alvinum

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Reply 3 on: Yesterday
:D TYSM

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